Fan Yongyao: Denver car rental madness

At the age of 40, Fan Yongyao chose failing capital auto rental companies. Capital auto lease today has more than 2000 cars, end of 2005 217 million yuan in total assets, revenue of nearly 100 million Yuan. Is Fan Yongyao capital auto lease, or auto lease him. &Nbsp;

the 1990 Beijing Asian Games have anything to do with car rental industry? Guests and friends to sporting events, to deal with officials, foreign dignitaries, journalists and tourists, car needs of the parties, a group of business of car rental car rental companies came into being, and rapidly expanding across the country. After more than 10 years of shuffling across the country left more than more than 100 car rental company, is currently ranked first in the industry to Beijing capital auto rental companies. Capital auto lease Fan Yongyao, General Manager says, "there are some sense of accomplishment." Fan Yongyao sense of accomplishment not only comes from the company's performance, is to be sure of their career transition for more than 10 years ago.

the age change harsh environments change the fate of

East Gate of Tsinghua University in wudaokou, active people of all colors, high-rises, traffic and shops gathered. However, more than 10 years ago, five only a low crossing bungalow. In November 1995, the age Fan Yongyao moved into one of five broken bungalows, began his alternative life.

sitting across from reporters Fan Yongyao very talkative, transfer from the army when he was 20 years old went to capital auto group, your first job is a car mechanic and subsequently served as Secretary of Youth League Committee, party branch Secretary and Deputy Director positions. Rich working experience, he acquired a good eloquence.

when I was a Deputy Director, Fan Yongyao administration regardless of the business, so when his ideas always at odds with the Director Deputy Director Tao, his ideas of management cannot be achieved. Fan Yongyao unwilling no decision-making power, eager to "own boss" days, and feel more and more strongly.

opportunity is here! Capital auto adjustment within the group, Ambassador teams, first Fan Yongyao can choose to auto rental companies, oil companies, bus companies, as well as a foreign-funded enterprises, and finally he chose capital auto lease. He said: "when the League Secretary, people have said that I would only wear mouth I wanted to prove his worth. 40 years old, has not had the opportunity to do business, no more action there is no chance. "

when choosing a rental car, his perception of this industry is still very limited, "far from optimistic about the car rental industry, just have a perceptual knowledge about this industry, which I am familiar. " In fact, most key to the capital auto lease, he will have the decision right, become a real Manager.

due to poor management, capital auto lease, since its establishment in 1992, for every year a Manager (capital auto lease at that time the highest position), Fan Yongyao caught the fourth. Capital auto leasing is at worst, failing. Only 18 employees, upon the establishment of the 151 car with only 69, and is "sick", the occupancy rate is less than 60%.

a person in the age of new choices, it takes courage, need more wisdom. Moved to break bungalow, Fan Yongyao psychologically there is a feeling of satisfaction; but at the time of the status quo, he used the "very bad" three words to sum up.

"wanted to look at the financial statements during the day, opened the drawer and result reports, half eaten by mice. Sleep at night also killed the mice. "At capital auto lease work environment very difficult, mosquito-ridden in summer, winter, mice scurrying. Fan Yongyao often take an air rifle and the employees chased the mouse.

not only that, the humble environment often Fan Yongyao, and employees feel embarrassed. Once a foreign guests to rent a car, asking where is the bathroom, "we quickly brought in a basin of water to wash him. Not the employees don't understand the bathroom but the environment too simple not a decent bathroom, afraid to take visitors to. " Memories of past hardships, Fan Yongyao smiled in a meaningful way.

first hold on top spot

more than 10 years of experience, Fan Yongyao is not only expert in the car rental industry, has also become well versed in capital markets operation masters, and he hopes to leverage the power of the capital markets rapidly bigger capital auto lease.

he would give capital auto lease's listing in Hong Kong or Singapore, does not rule out looking for opportunities in the country the backdoor listing. He told reporters: "we will try to market within three years. Networking, business development, to tease out a clearer profit model is a top priority. "

capital auto rental in the future not only in China, Fan Yongyao is aimed at the international market, so he included in the competitor's company is an international enterprise, there are "blue chips", there is "potential".

Fan Yongyao capital auto lease is the biggest opponent is the United Kingdom, a car rental company, listed on the New York Stock Exchange. The company background of both automakers, and solid financial strength. Business involved in many countries, its wholly-owned subsidiary has set up branches in Shanghai.

"another competitor is Korea's company. "Fan Yongyao said," Although currently there is no climate of business in China, but the potential is considerable. "

the domestic market, Fan Yongyao concerned headquarters is located in the heart of a car rental company. He told new magazine: "the company's business has expanded to include several cities in China, but has not yet formed a large network. "

for some newly growing small companies, Fan Yongyao, through mergers and acquisitions, equity participation, joining and cooperation these resources in a way so that you can quickly expand the existing network, gather resources to market.

it is understood that the capital auto lease backbone of National Assembly will be convened in the near future, the question is how to consolidate all customer resources, establish a unified platform. Capital auto lease now already have their own call centers, GPS positioning system, capital auto lease cheat rental rates are very low, and therefore reduces the risk of business operations, paving the way for the listing.

"in the face of the opponent, we have ran. "Fan Yongyao does not deny that this is a tiring business: see a yard full of cars rent it out he will be very unhappy, maybe one car back to watch full House car renting out his sorrow.

capital auto lease is a step forward in the process, he saw his value. To listing, to hold top spot was not easy. Fan Yongyao another journey has only just begun.

reporter's notes

Fan Yongyao has finished MBA course at Tsinghua University, a leader of progressive forces will directly affect the creativity and vitality of the enterprise. Leader can see how far, how far companies can go.

Fan Yongyao age chose recycled their own life. Seeking 40 years too late. Only with the heart, as long as the input, always give yourself a satisfactory answer.

the sweet, three years later, Fan Yongyao with a spacious office building and sat on the national leasing business for the top spot. Capital auto lease now has 18 branches in Beijing, has 17 varieties in the national network of more than 8,000 vehicles owned and franchise rental car, more than more than 50 different join stores distributed in 30 cities. Shanghai and Qingdao, two retail branches, Guangzhou, Shenzhen and Fuzhou will be opened.

the traditional cornerstone rentals stable leasing opportunities

financial leasing is the important component of automotive financial services. In developed countries, car leasing is not new. In annual global vehicle sales, financing, loans and finance lease, sales of cars, 70% per cent of total sales, leasing accounted for 70% of the 60%. According to statistics, in recent years, global automotive finance leases amount at more than $ 200 billion a year. Fan Yongyao predicted that by 2015, China's car rental market scale will reach 18 billion yuan, but now the scale is about 3 billion. Fan Yongyao sees huge potential in this market, Automobile finance leasing business to be his current development focus.

in accordance with the relevant provisions of the Ministry of Commerce, domestic leasing companies financing leasing must reach 170 million yuan of registered capital, capital auto lease now only 60 million yuan of registered capital, to make car leasing must be increased by at least 110 million yuan of registered capital.

Fan Yongyao began looking for investors. In March 2006, the first auto leasing in China Beijing equity exchange, Fan Yongyao says ' equity financing was introduced to car manufacturers, major car rental companies at home and abroad, financial institutions and other strategic investors. Fan Yongyao excited is that capital auto lease had found strategic investors, injection process will be completed in 2007, before and after the Spring Festival.

capital auto rentals to find strategic investors is Beijing automotive investment company, its registered capital of 2.57 billion yuan, 2005 sales of 25.6 billion yuan and total assets of 13 billion yuan. It is the subject of modern Chinese in Beijing, 50% equity stake in Beijing Hyundai company.

three years ago, Fan Yongyao chased auto makers run, wanted to work with them. Now, many manufacturers to actively seek to talk about cooperation. Because auto manufacturers have come to realize the value of auto lease financing for car sales.

for now, capital auto lease car leasing is still in testing phase. Capital auto 2006 net profits of more than 10 million Yuan, the traditional operating lease is still the main source of profit, not to 1% finance leasing business, "but is expected to develop into the main profit sources in the future. Leasing companies after registration, we want to scale to promote this business. "

Next, Fan Yongyao preparing to look for international partners, want to integrate into the international car rental network. Capital operation, the Fan Yongyao is not idle, already listed on for first auto leasing plan.